TOWN AND COUNTRY — Battery maker Energizer Holdings Inc. saw profits slip in its first quarter of fiscal 2022 as inflation and supply chain woes took their toll.
The company, which has its headquarters near Maryville University, made $56 million, or 83 cents per share, in the period ended Dec. 31. It made $63.1 million, or 91 cents per share, in the same frame the prior year.
Executives highlighted robust demand for their products on a call Monday morning, saying that the number of battery-powered devices in homes is up, and they’re being used more. They also said demand for the company’s auto care products is solid thanks to an increase in do-it-yourself maintenance that began during the pandemic and the rising age of the cars on the road.
But executives conceded that labor shortages and rising costs in freight transportation and raw materials were taking their toll, and said they’re rolling out price increases of their own to compensate. “We are taking aggressive action,” said CEO Mark LaVigne.
Energizer shares fell 17 cents, or half a percentage point, to $33.98 in morning trading.
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